Implication of Blockchain Technology on Supply Chain Performance

Blockchain technology has attracted attention from the industry and the university. The blockchain is a peer-to-peer information network. In fact, it shares a financial office system and is a decentralized computing model which maintains records of digital transactions through distributed offices or resources and replaces traditional databases controlled by mediators such as banks and governments. The current supply chain is a linear economic model that meets the supply needs directly or indirectly. But this model has problems such as the relationship between the supply chain members. This article unlocks the mystique of blockchain technology and discusses ways to leverage blockchain technology to enhance supply chain resilience in times of increased risks and uncertainty. We examine how the blockchain technology can be effective in supply chain performance and, by creating a rotating economy, solves many disadvantages of the current supply chain